Ganges Securities Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Tea: 79.2% • Investments: 20.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Asset quality is healthy - gross NPA of just 0.0%
CONS
- Company has a low return on capital employed of 1.3%
- Company has a low return on equity of 0.9% over last 3 years
- Operating margins have contracted to 70.5% from 91.1%
- Company has delivered a poor profit growth of -1.6% over past five years
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Growth is decelerating - 3Y profit CAGR (-23.7%) trails the 5Y trend (-1.6%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1939.00 | 30.62 | 310639.69 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 526.00 | 21.29 | 44669.26 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1526.85 | 10.74 | 28670.80 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13376.15 | 13.73 | 27062.77 | 0.64 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 270.65 | 23.09 | 26040.70 | 0.07 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13287.05 | 54.52 | 15185.20 | 1.66 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11496.70 | 92.89 | 12760.91 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 128.45 | 11.82 | 12292.15 | 2.53 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 422.30 | 19.27 | 9379.45 | 2.64 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 254.65 | 159.81 | 8778.64 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2318.55 | 7.99 | 7440.36 | 1.79 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| GANGESSECU | 118.35 | 41.09 | 118.39 | 0.00 | 1.22 | 18.51 | 7.70 | 21.13 | 0.76 | 10.16 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 8 | 2 | 1 | 1 | 5 | 2 | 1 | 1 | 5 | 2 | 1 | 1 | |
| 0 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | |
| Operating Profit | 0 | 7 | 2 | 0 | 0 | 4 | 1 | -1 | 0 | 5 | 1 | -0 | 0 |
| OPM % | 21.57% | 94.55% | 85.80% | 5.63% | 46.75% | 85.71% | 75.82% | -115.00% | 8.93% | 91.76% | 72.88% | -72.22% | 9.88% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 7 | 2 | 0 | 0 | 4 | 1 | -1 | 0 | 5 | 1 | -0 | 0 | |
| Tax % | 5.88% | 25.20% | 25.16% | 36.36% | 17.07% | 25.31% | 25.87% | 12.70% | 18.75% | 25.21% | 25.00% | -0.00% | 27.03% |
| Net Profit | 0 | 6 | 1 | 0 | 0 | 3 | 1 | -1 | 0 | 4 | 1 | -0 | 0 |
| 0 | 6 | 1 | 0 | 0 | 3 | 1 | -1 | 0 | 4 | 1 | -0 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 1 | 5 | 8 | 14 | 11 | 8 | 8 | 8 | |
| 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 3 | 2 | 2 | |
| Operating Profit | -0 | -0 | 0 | 0 | 4 | 6 | 12 | 9 | 5 | 6 | 6 |
| OPM % | -75.35% | -13.76% | 42.30% | 37.28% | 88.12% | 77.86% | 88.89% | 83.51% | 64.29% | 70.51% | 70.44% |
| 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | -0 | 0 | 0 | 0 | 5 | 7 | 12 | 9 | 5 | 6 | 6 |
| Tax % | -0.00% | 0.00% | 26.85% | 0.00% | -0.34% | 5.60% | 19.95% | 25.07% | 26.38% | 26.38% | 26.66% |
| Net Profit | -0 | 0 | 0 | 0 | 5 | 7 | 10 | 7 | 4 | 4 | 4 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 4.70 | 6.90 | 9.78 | 6.90 | 3.88 | 4.33 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 10%
- 3 Years:
- -16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -2%
- 3 Years:
- -24%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- -1%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 1%
- 3 Years:
- 1%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
| 36 | 37 | 45 | 41 | 55 | 596 | 423 | 521 | 651 | 516 | |
| 0 | 0 | 2 | 3 | 2 | 3 | 0 | 0 | 0 | 0 | |
| 2 | 2 | 0 | 0 | 0 | 10 | 3 | 21 | 50 | 36 | |
| Total Liabilities | 48 | 48 | 58 | 54 | 67 | 619 | 436 | 552 | 711 | 561 |
| 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | |
| 47 | 47 | 56 | 52 | 61 | 570 | 400 | 509 | 683 | 541 | |
| Cash & Bank | 0 | 0 | 1 | 1 | 5 | 7 | 15 | 22 | 17 | 3 |
| 0 | 0 | 0 | 0 | 1 | 41 | 21 | 20 | 11 | 17 | |
| Total Assets | 48 | 48 | 58 | 54 | 67 | 619 | 436 | 552 | 711 | 561 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0 | 0 | 0 | 1 | 5 | 7 | 24 | -6 | 18 | 12 | |
| Cash from Investing | 0 | 0 | -0 | 0 | 0 | -12 | -21 | 0 | -18 | -12 |
| Cash from Financing | 0 | 0 | 0 | 0 | -0 | -3 | -3 | -0 | 0 | 0 |
| -0 | 0 | -0 | 1 | 4 | -5 | -1 | -6 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - The Exchange has sought clarification from Ganges Securities Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-08-26 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Ganges Securities Limited has informed the Exchange about General Updates
2026-08-13 - Ganges Securities Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11 - Ganges Securities Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-11 - Ganges Securities Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026
2026-07-21 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-20 - Ganges Securities Limited has informed the Exchange regarding 'Disclosure under Requlation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
News
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